Balance Transfers Credit Card -Primer- by toriola1


									                                                   Presented by Daniel Toriola

    Credit cards are very useful for those people who can manage their finances properly. Nowadays even airlines
    offer credit cards to their clients. However, credit cards are not to be used to purchase something you cannot
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                                               Balance Transfers Credit Card "Primer"
                                                                     By Bert Wills

   Credit card features are composed of the APR (annual percentage rates), balance transfer fees,
interest rates, late fees, and so forth. The APR is a primary feature to reflect on while searching for
balance transfer cards. Credit card companies are competitors; therefore, the companies will strive to
offer special deals on credit cards. Some of the deals include 0% introductory rates and low interest
rates, particularly for balance transfers. In your search for the best balance transfer credit cards, be
sure to take maximize the advantage of the offer by using the card strictly for balance transfers. If you
use the cards to make purchases, please keep in mind that the credit card issuers profit from the
corresponding financial charges that you might incur while using this type of card.

Introductory Periods

For a few of the balance transfer cards, lenders will add zero percentage introductory rates for up to 15
months. Some credit card lenders will determine the zero introductory rates from your credit rating. If
you have six months, one year, or 15 months of 0% on your balance transfers be sure to pay off the
debts before the date expires.

Balance Transfer Fees

Balance transfer fees consist of a percentage of the full amount that is financed and transferred to the
card. The fees typically average around 3 percent of the amount transferred. The purpose of
comparing cards is primarily due to the fact that some credit card lenders will essentially surrender the
normal fees during the introductory trial.

Transferring the Balance on Credit Card Dates

Very few of the available balance transfer credit card offers will not require a transfer fee. The balance
transfer credit cards that provide the most benefits are those cards that enable you to complete
balance transfers during the entire introductory period. The cards that require you to start balance
transferring upon receipt of the card do not allow the flexibility that the latter card allows. Be sure to
read the terms and conditions, since you can look for clauses, stipulations and/or restrictions on
balance transfers. The most important thing to consider is understanding, the types of balances
transferable, before accepting the card.

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The balance transfer credit cards nowadays have select programs that offer rewards. Comparing the
cards will help you find the better cards that suit your needs. Look through the clauses when
considering rewards balance transfer cards, since some card lenders will not apply the points to the
balances transferred. Still, this could be the better choice!

For more information on balance transfer credit card basics, Bert Wills recommends that you visit

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                        Balance Transfers Credit Cards: How To Maximize Your Savings
                                                       By Robert Alan

 Using balance transfers credit cards, you can move funds from one of your accounts to another. The
advantage of doing this is simple, especially when you qualify for credit lines that offer low interest or
even 0 APR to you. There are several ways that you can save money by using a balance transfers
credit card. Many people are qualified for these lines of credit. If you qualify, use them wisely to save

What Are Balance Transfers?

A balance transfer allows you to move money from one credit card to another. In essence, you will pay
off the balance, or portion of the balance, from one credit card with the other. Balance transfer credit
cards are cards that allow you to do this. Most often, they are done through electronic payments or
sometimes with checks that are sent to cardholders. In some situations, when you apply for the
balance transfers credit card, you can transfer the balance immediately at that time.

Why Bother With Balance Transfers?

One of the best reasons to use balance transfers credit cards is to save money by moving money from
a high interest rate credit card to one with a lower rate. A lower rate, even just by a few percentage
points, can save you a great deal of money, if the card balance is significant. For example, if you have
one line of credit with a $5000 balance at 20 percent interest and move it to a balance transfer credit
card with a 15 percent interest, you will save $250 on an annualized basis on that balance.

0 Percent APR Balance Transfers

Sometimes, the best way to use balance transfers credit cards is through an introductory offer. Some
lenders offer 0 percent APR balance transfers for a limited time for new cardholders. This period may
be for three to six months (sometimes as long as 15 months for the most credit-worthy applicants)
where no interest is applied to any card balance that is transferred during the initial application

To use this type of balance transfers credit card wisely, first you will obviously want to transfer any high
interest rate credit card balances to the 0 APR credit line. But here is the key to making this type of
offer really pay off: make sure that you payoff the outstanding balance within the introductory period.
That way, you do not have to pay ANY interest or finance charges for that period of time. The savings
can be substantial. Be advised, however, that you have to make sure that you pay off the balance
before the introductory period expires. Any balance that is not paid off prior to the introductory period
ending will start incurring finance charges at the regular rate, which can typically be exorbitant at 17 or
18% and much higher.

Monitor Fees

With balance transfers credit cards, it is important to consider any fees that might be associated with
the use of the card. Most credit cards offer balance transfers these days, but some of them do charge
a considerable fee for doing so. If you decide to use a balance transfer credit card for an introductory

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period, be sure that there is no balance transfer fee, and that the introductory discount applies to
balance transfers.

When you use them wisely balance transfers credit cards provide optimum benefits to cardholders.
You can save a considerable amount of money with introductory offers through balance transfer credit
card offers, which means that you could be saving a substantial amount right now.

Robert Alan is an editor for and frequently contributing writer on
various credit card-related topics. Find more free information, tips and advice from Robert on credit
cards balance transfers at

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